Cheltenham November Meeting: Favourites for the Gold Cup Handicap Chase

The Gold Cup Handicap Chase is one of the highlight races of the National Hunt season, held annually at Cheltenham Racecourse in November. A prestigious Premier handicap chase, it attracts top-class chasers from across Britain and Ireland, making it a thrilling early-season spectacle. 

Often a key indicator for future Cheltenham Festival contenders, the Gold Cup Handicap Chase combines history, excitement, and high stakes—cementing its place as a fan favourite in the jump racing calendar.

For those who will be watching the Gold Cup closely – let’s take a look at the three favourites (at the time of writing) with UK bookmaker Virgin Bet.

Jagwar

Jagwar caught the eye at the 2025 Cheltenham Festival when he landed the high-profile Trustatrader Plate Handicap Chase, showing plenty of promise. In that race, trained by Oliver Greenall (in partnership with Josh Guerriero) for owner J P McManus, he justified favourite status with a composed but mature performance. 

What makes Jagwar particularly interesting for the Gold Cup is his raw scope and upward trajectory. His trainer has admitted the horse is a “huge baby” (standing 18 hands high) and still physically developing — so there is arguably improvement to come, especially in his jumping fluency. His Festival win was impressive, but also revealed that he can make mistakes and perhaps lacks the seasoned refinement of his rivals at this level. In a race like the Gold Cup, where pace, stamina and jumping precision combine, that becomes a key factor.

In short, Jagwar brings upside, youth and a Cheltenham Festival win in the bag — all positive. On the flip side, his inexperience over the specific trip/conditions of the Gold Cup and his still-maturing profile mean he might carry a risk. If he nails the jump and travels, he could be dangerous. But if he stumbles or is asked to lift, the more seasoned types may have the edge.

Caldwell Potter

Caldwell Potter’s story is one of potential finally aligning with performance. Bought for a hefty sum by a syndicate including Sir Alex Ferguson, Ged Mason and others, the grey gelding has had a few questions surrounding him — especially about his price tag and physical quirks (notably foot issues). 

Under trainer Paul Nicholls and ridden by Harry Cobden, Caldwell Potter hit a rich vein of form - he won the Jack Richards Novices’ Limited Handicap Chase at Cheltenham in March 2025 with authority, leading virtually throughout and making it look easy. He followed that up with a Grade 1 victory in the Mildmay Novices’ Chase at Aintree over three miles in April, again showing his versatility and class. 

Why does he fit the Gold Cup picture? He has shown he can travel, jump well and win at the big meetings. He also appears to be improving and stepping up to his best ground. Trainer Nicholls has said he feels the horse wants a trip and may ultimately be a “Gold Cup horse” in time. The potential “what if” is - can he switch from novice/Grade 1 company to the sort of competitive handicap chase like the Gold Cup Handicap Chase (which has its own demands of weight, pace, and large field tactics)? If the ground suits and he handles the weight and pace, his chance is genuine.

Il Ridoto

Il Ridoto is the model of experience in this trio and perhaps the steady option for the 2025 Gold Cup. Trained also by Paul Nicholls, the bay gelding has been knocking on the door of top-level handicaps and finally broke through in the Gold Cup Handicap Chase itself in 2024 after finishing fourth (2022) and third (2023) respectively in previous renewals. That win – by four-and-a-half lengths – displayed his ability to execute under pressure, in a significant field, at the right time. 

What makes Il Ridoto compelling is his familiarity with Cheltenham, his course form, his weight/carrying experience, and his proven staying ability around the distance of the Gold Cup. These are all advantages in a big field handicap where nuances matter. The flip side is that as a more known quantity, improvement potential might be more limited compared to the younger, up-and-coming horses. Also, his mark has gone up, and he may carry more weight or be asked a sharper question this year.